Bright spots in policy credit activities

Last year, the Bank for Social Policies (VBSP) of Khanh Hoa Province closely coordinated with entrusted socio-political organizations and relevant departments and branches to effectively implement social policy credit. It is considered a bright spot in the VBSP system.

At the working session of the Board of Directors of the Provincial Bank for Social Policies on the results of policy credit activities in 2023 and implementation of tasks in 2024 held on January 10, the leaders of the Provincial Bank for Social Policies said that the unit is 1 of 13 branches nationwide rewarded by VBSP for good implementation of Resolution No. 11/2022 of the Government on the Socio-economic recovery and development program; won first prize in the topic Accounting - Treasury. This was a great joy for the Provincial Bank for Social Policies, thereby showing the efforts of branch officials and employees and members of the Board of Directors of the Provincial Bank for Social Policies in effectively implementing policy credit activities for the poor and other policy beneficiaries.

Disbursing policy credit capital to customers in Nha Trang

According to the report of the Provincial Bank for Social Policies, the total outstanding debt of policy credit programs as of December 31, 2023 reached more than 4,230 billion VND, an increase of 453.3 billion VND compared to the beginning of the year (corresponding to an increase rate of 12%) with 114,836 outstanding customers. The growth rate of outstanding loans of VBSP was higher than the average growth rate of the Khanh Hoa banking industry. Credit quality has become more and more stable; Overdue debt of the entire branch was more than 8 billion VND (down 666 million VND compared to the beginning of the year), accounting for 0.19%/total outstanding debt. The overdue debt rate of VBSP is lower than the average bad debt rate of the province’s banking industry.

At the working session of the Board of Directors of the Provincial Bank for Social Policies, Ho Dac Thich - Director of the Provincial Bank for Social Policies said that currently, the branch aimed to strive for outstanding debt growth of about 8% - 10% compared to 2023; the rate of overdue debts and frozen debts at or lower than the end of 2023... Right from the beginning of 2024, the provincial Bank for Social Policies needs to strengthen the implementation of solutions to improve credit quality.

To complete the striving targets, Le Huu Hoang - Standing Vice Chairman of the provincial People's Committee, Head of the Board of Representatives of the Provincial Bank for Social Policies directed the provincial Bank for Social Policies and socio-political entrusted organizations to implement social policy credit programs being implemented in the province, especially the national target program for socio-economic development in ethnic minority and mountainous areas... The provincial Bank for Social Policies focuses on implementing the 2024 credit growth plan right from the beginning of the year; synchronously implement solutions to consolidate and improve the quality of social policy credit; perform well the work of reviewing and handling debts for customers who leave the locality. Right in the first quarter, socio-political organizations entrusted to urgently develop inspection and supervision programs and plans in 2024; Check the use of new loans...

Mai Hoang
Translated by T.T